U.S. Treasury
Treasury Recovers $1.3B in Unpaid Taxes From High-Wealth Tax Dodgers
Agency officials said that almost 80% of the 1,600 millionaires targeted by the IRS for failing to pay a delinquent tax debt have now made a payment. read more >
by Associated Press -
New US Rules Try to Make It Harder for Criminals to Launder Money by Paying Cash for Homes
The requirements won't apply to sales to individuals or purchases involving mortgages or other financing. read more >
by Associated Press -
IRS Collects Milestone $1B in Back Taxes From High-Wealth Taxpayers
The collection campaign is focused on taxpayers with more than $1 million in income and more than $250,000 in recognized tax debt. read more >
by Associated Press -
Yellen Announces Efforts to Boost the Housing Supply as High Prices Create a Crunch
The investments include providing $100 million through a new fund over the next three years to support affordable housing financing, boosting the Federal Financing Bank’s financing of affordable housing and other measures. read more >
by Associated Press -
Treasury Proposes New Anti-Money Laundering Regulations for Investment Advisers
Advisers would be required to file reports with the government when suspicious activity is detected by clients, among other things. read more >
by Associated Press -
Yellen Says 100,000 Firms Have Joined a Business Database Aimed at Unmasking Shell Company Owners
Yellen said that the new Treasury database that is collecting beneficial ownership information sends the message that "the United States is not a haven for dirty money.” read more >
by Associated Press -
19 Arkansas Banks and Lenders to Split $72.65M in Grants
The U.S. Treasury announced the grant recipients from their Equitable Recovery Program last week. read more >
US Treasury Buys Time for Biden and GOP on Debt Limit Deal
Markets so far remain calm, as the government can temporarily rely on accounting tweaks to stay open, meaning that any threats to the economy are several months away. read more >
by Associated Press -
Mortgage Rates’ Rise Has Led to Wide Gap With US Bond Yields
This spread has historically averaged around 170 basis points a month, but between March and October it averaged about 240 basis points. read more >
by Associated Press -
US Mortgage Rates Top 7% for the First Time in 2 Decades
The last time the average rate was above 7% was April 2002, a time when the U.S. was still reeling from the Sept. 11 terrorist attacks. read more >
by Associated Press -
US Has Sent $8.28B in Pandemic Funds to Local Lenders
Mississippi, Louisiana, North Carolina, California, and Texas have received some of the biggest contributions. read more >
Biden to Issue Executive Order on Cryptocurrency
The order is expected to describe what government agencies, including the Treasury Department, need to do to develop policies and regulations on digital currencies. read more >
by Associated Press -
Judge Blocks Tax Cut Rule in American Rescue Plan After Arkansas, Other States Sue
The judge described the tax-cut restrictions as "a federal invasion of State sovereignty." read more >
by Associated Press -
SBA Releases Simpler Application for Smaller PPP Loans
The U.S. Small Business Administration, in consultation with the Treasury Department, recently released a simpler loan forgiveness application for Paycheck Protection Program loans of $50,000 or less. read more >
Date Set for One Bank & Trust Sale
Standing first in line for the court-ordered sale of controlling interest in Little Rock’s One Bank & Trust is the United States of America, with a potential credit bid of up to $47.9 million. read more >
Banking & Finance / Government & Politics / Insurance / Investments / Legal / Public Companies / Real Estate
Feds Ask To Sell One Bank & Trust
A change of ownership is in motion for Little Rock’s One Bank & Trust. The U.S. government has asked for a court-ordered stock sale of controlling interest in the $305 million-asset bank. read more >
by George Waldon -
One Bank & Trust: Sell or Build Capital Base
Little Rock’s One Bank & Trust continues to operate under an unusual arrangement more than four years after the ouster of its owner and CEO, Layton “Scooter” Stuart. read more >
by George Waldon -
Settlement Will Boost One Bank’s Capital
A financial decision that Layton “Scooter” Stuart made in the weeks preceding his death in March 2013 is breathing fiscal life into Little Rock’s One Bank & Trust. The de facto capital injection is happening in a way that he didn’t plan and couldn’t have foreseen. read more >
by George Waldon -
Southern Bancorp Awarded $2M by Treasury CDFI Fund
Southern Bancorp Inc. is awarded $2 million, the maximum available under the Financial Assistance program of the U.S. Treasury's CDFI Fund. read more >
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